Altınbaş Holding
| Private | |
| ISIN | 🆔 |
| Industry | Conglomerate, Energy, Jewelry, Finance, Education, Logistics |
| Founded 📆 | 1996 |
| Founder 👔 | Mehmet Altınbaş |
Area served 🗺️ | |
Key people | Vakkas Altınbaş (Chairman), Ali Altınbaş (Honorary Chairman) |
| Revenue🤑 | ₺9.5 billion (2016)[1] |
| Members | |
Number of employees | ~4,000 |
| 🌐 Website | https://www.altinbas.com |
| 📇 Address | |
| 📞 telephone | |
Altınbaş Holding is a Turkish family-owned conglomerate headquartered in Istanbul, Turkey. The group operates in multiple industries including jewelry, energy, finance, logistics and education.[2] It has more than 20 subsidiaries across Turkey, Northern Cyprus and Ukraine.[3] The company grew from a small jewelry business founded in the 1950s by Mehmet Altınbaş, and was officially incorporated as a holding company in 1996.[1]
History
The origins of Altınbaş Holding date back to the early 1950s when its founder, Mehmet Altınbaş, began trading gold and jewelry in Gaziantep.[1] The business expanded internationally in 1979 with the opening of a jewelry store in Northern Cyprus.
The company diversified into finance in 1993 by establishing the Altınbaş Bank in Northern Cyprus, later renamed Creditwest Bank.[3] In 1996, the family consolidated its businesses under the Altınbaş Holding entity.
In 1999, the group entered the energy sector by launching fuel distribution operations under the brand Alpet.[4]
In 2008, the Mehmet Altınbaş Education and Culture Foundation founded Altınbaş University (formerly Istanbul Kemerburgaz University) in Istanbul.[5]
Subsidiaries and Operations
Jewelry and Precious Metals
The holding’s primary business originally centered on jewelry manufacturing and retailing through the brand Altınbaş Jewelry. The company operates over 100 stores in Turkey and exports to more than 80 countries.[1]
The holding also owns Onsa Refinery, one of Turkey’s licensed precious metal refineries.[6]
Energy
Through its subsidiary Alpet, Altınbaş Holding manages fuel storage and distribution, operating more than 400 petrol stations in Turkey and over 50 in Northern Cyprus.[7]
The group also produces industrial lubricants through Atak Madeni Yağları.
Finance
The finance division includes Creditwest Bank in Northern Cyprus and Creditwest Bank Ukraine, which was established in 2007, considered the first Turkish-owned bank in Ukraine.[3]
Creditwest operates in retail and SME banking, insurance, and factoring.[8]
Logistics
Through Transal Denizcilik and Galata Denizcilik, the group manages maritime shipping and storage operations, mainly serving fuel and petroleum logistics.
Education
Altınbaş University is a non-profit private foundation university in Istanbul, offering programs in engineering, law, business, medicine, and social sciences.[9]
Financials
Altınbaş Holding reported revenues of ₺7.0 billion in 2013, rising to ₺9.5 billion in 2016, including finance operations.[1] In 2018, Altınbaş Jewelry and Onsa Refinery were listed among Turkey’s Top 500 Exporters by TOBB.[10]
Corporate Governance
The holding is owned by members of the Altınbaş family. Leadership was passed to brothers Ali and Vakkas Altınbaş after the founder’s death in 2003.[2] The group follows a professional management model, with subsidiary-specific executive teams.
Social Responsibility
The Mehmet Altınbaş Education and Culture Foundation focuses on scholarships, educational initiatives, and community responsibility programs in Turkey and Northern Cyprus.[2]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 Karamustafaoğlu, Özgür (12 March 2016). "Altınbaş Holding: Enerjiden Eğitime Uzanan Yolculuk". Fortune Türkiye. pp. 58–62.
- ↑ 2.0 2.1 2.2 Family Businesses in Turkey (PDF) (Report). KPMG Advisory. 2022. pp. 87–88.
- ↑ 3.0 3.1 3.2 "Creditwest Bank and Turkish investment influence in Cyprus". Cyprus Mail. 14 May 2021.
- ↑ "Alpet Expanding in Cyprus". Bloomberg HT. 5 June 2019.
- ↑ "Altınbaş University". Retrieved 28 November 2025.
- ↑ "ONSA Refinery". Istanbul Gold Refiners Association. Retrieved 28 November 2025.
- ↑ "Alpet: Cyprus's Largest Independent Fuel Distributor". Cyprus Mail. 6 June 2021.
- ↑ "Creditwest Bank Expanding in SME Sector". Dünya. 22 January 2020.
- ↑ "Altınbaş University Program Catalog".
- ↑ "Turkey's Top 500 Exporters List" (PDF). TOBB. 2018.
Category:Conglomerate companies of Turkey Category:Companies based in Istanbul Category:Companies established in 1996 Category:Family-owned companies Category:Jewellery companies of Turkey Category:Energy companies of Turkey
History
The origins of Altınbaş Holding date back to the early 1950s when its founder, Mehmet Altınbaş, began trading gold and jewelry in Gaziantep.[1] The business expanded internationally in 1979 with the opening of a jewelry store in Northern Cyprus.
The company diversified into finance in 1993 by establishing the Altınbaş Bank in Northern Cyprus, later renamed Creditwest Bank.[2] In 1996, the family consolidated its businesses under the Altınbaş Holding entity.
In 1999, the group entered the energy sector by launching fuel distribution operations under the brand Alpet.[3]
In 2008, the Mehmet Altınbaş Education and Culture Foundation founded Altınbaş University (formerly Istanbul Kemerburgaz University) in Istanbul.[4]
Subsidiaries and Operations
Jewelry and Precious Metals
The holding’s primary business originally centered on jewelry manufacturing and retailing through the brand Altınbaş Jewelry. The company operates over 100 stores in Turkey and exports to more than 80 countries.[1]
The holding also owns Onsa Refinery, one of Turkey’s licensed precious metal refineries.[5]
Energy
Through its subsidiary Alpet, Altınbaş Holding manages fuel storage and distribution, operating more than 400 petrol stations in Turkey and over 50 in Northern Cyprus.[6]
The group also produces industrial lubricants through Atak Madeni Yağları.[7]
Finance
The finance division includes Creditwest Bank in Northern Cyprus and Creditwest Bank Ukraine, which was established in 2007, considered the first Turkish-owned bank in Ukraine.[2]
Creditwest operates in retail and SME banking, insurance, and factoring.[8]
Logistics
Through Transal Denizcilik and Galata Denizcilik, the group manages maritime shipping and storage operations, mainly serving fuel and petroleum logistics.[9]
Education
Altınbaş University is a non-profit private foundation university in Istanbul, offering programs in engineering, law, business, medicine, and social sciences.[10]
Financials
Altınbaş Holding reported revenues of ₺7.0 billion in 2013, rising to ₺9.5 billion in 2016, including finance operations.[1] In 2018, Altınbaş Jewelry and Onsa Refinery were listed among Turkey’s Top 500 Exporters by TOBB.[11]
Corporate Governance
The holding is owned by members of the Altınbaş family. Leadership was passed to brothers Ali and Vakkas Altınbaş after the founder’s death in 2003.[12] The group follows a professional management model, with subsidiary-specific executive teams.
Social Responsibility
The Mehmet Altınbaş Education and Culture Foundation focuses on scholarships, educational initiatives, and community responsibility programs in Turkey and Northern Cyprus.[12]
See also
References
- ↑ 1.0 1.1 1.2 Cite error: Invalid
<ref>tag; no text was provided for refs namedFortune - ↑ 2.0 2.1 Cite error: Invalid
<ref>tag; no text was provided for refs namedCyprusMail - ↑ "Alpet Expanding in Cyprus". Bloomberg HT. 5 June 2019.
- ↑ "Altınbaş University". Retrieved 28 November 2025.
- ↑ "ONSA Refinery". Istanbul Gold Refiners Association. Retrieved 28 November 2025.
- ↑ "Alpet: Cyprus's Largest Independent Fuel Distributor". Cyprus Mail. 6 June 2021.
- ↑ "Atak Lubricants Company Profile". Turkey Energy Report 2020. Missing or empty
|url=(help) - ↑ "Creditwest Bank Expanding in SME Sector". Dünya. 22 January 2020.
- ↑ "Altınbaş Shipping Subsidiaries". Global Logistics Report. 2019. Missing or empty
|url=(help) - ↑ "Altınbaş University Program Catalog".
- ↑ "Turkey's Top 500 Exporters List" (PDF). TOBB. 2018.
- ↑ 12.0 12.1 Cite error: Invalid
<ref>tag; no text was provided for refs namedKPMG
Category:Conglomerate companies of Turkey Category:Companies based in Istanbul Category:Companies established in 1996 Category:Family-owned companies Category:Jewellery companies of Turkey Category:Energy companies of Turkey
History
The business origins date to the early 1950s, when Mehmet Altınbaş began trading pistachios and later entered the jewelry business in Gaziantep.[1] In 1979, his sons opened the first jewelry store abroad in Northern Cyprus, marking the family’s international expansion.
In 1993, the family ventured into finance by founding Altınbaş Bank in Northern Cyprus, later renamed Creditwest Bank.[2] In 1996, Altınbaş Holding A.Ş. was formally established to consolidate the businesses under one corporate entity.
The group expanded into the energy sector in 1999 by founding Alpet Cyprus and later launched fuel distribution operations in Turkey under the Alpet brand.[3]
In 2008, the Altınbaş family founded Istanbul Kemerburgaz University (later renamed Altınbaş University) through their educational foundation.[4]
Subsidiaries and Operations
Jewelry and Precious Metals
Altınbaş Jewelry is the holding's flagship brand, with over 100 stores in Turkey and 120 abroad, exporting to more than 80 countries.[5] The group also operates a precious metals refinery (ONSA) and jewelry manufacturing facilities in Istanbul.
Energy
The energy division operates under the brand Alpet, which manages more than 400 petrol stations in Turkey and over 50 in Northern Cyprus.[3] Subsidiary Atak Madeni Yağları produces lubricants and oil products marketed under brands such as Exen Oil and Alpet Lubricants.
Finance
The finance division includes Creditwest Bank in Northern Cyprus and Creditwest Bank Ukraine, founded in 2007 – the first Turkish-origin bank in Ukraine.[2] The group also provides factoring and insurance services through Creditwest subsidiaries.
Logistics
Subsidiary **Transal Denizcilik** operates cargo vessels for petroleum transport, while **Galata Denizcilik** handles shipbuilding. These logistics services support the group's energy supply chain.
Education
Altınbaş University, founded in 2008, is a non-profit foundation university in Istanbul with over 11,000 students, including a large international population.[6]
Financials
Altınbaş Holding reported revenue of ₺7.0 billion in 2013, rising to ₺8.9 billion in 2015 and ₺9.5 billion in 2016 (including finance sector).[5] The group employs approximately 4,000 people and operates 21 companies across three countries.[7]
Corporate Governance
Altınbaş Holding is privately owned by the Altınbaş family. Following founder Mehmet Altınbaş’s death in 2003, leadership transitioned to his sons. Ali Altınbaş serves as Honorary Chairman, while Vakkas Altınbaş has chaired the holding’s board.[5] Family members also serve on the boards of group businesses and on the trustees’ board of Altınbaş University.
Social Responsibility
The holding’s philanthropic activities are conducted through the Mehmet Altınbaş Education and Culture Foundation, established in 2005. The foundation supports scholarships, community service, cultural programs, and education initiatives, including funding Altınbaş University.[2]
Altınbaş University has a strong social responsibility program, requiring students to complete at least one community project before graduation.[8]
Controversies
In September 2020, Turkish authorities detained Ali and Sofu Altınbaş, founders and board members, in connection with a fuel tax fraud and money-laundering investigation. They were accused of evading taxes by falsely reporting tax-exempt maritime fuel deliveries to ships that did not exist.[9] Legal proceedings are ongoing.
See also
References
- ↑ "Yavru Vatan İçin Mersin'den Kıbrıs'a Yüzecek". Patronlar Dünyası. 9 July 2014. Retrieved 15 November 2023.
- ↑ 2.0 2.1 2.2 "Altınbaş Holding Tarihçe". Altınbaş Holding official. Retrieved 15 November 2023.
- ↑ 3.0 3.1 "Alpet Expanding in Cyprus". Financial Mirror. 2016.
- ↑ "History of Altınbaş University". Retrieved 20 November 2023.
- ↑ 5.0 5.1 5.2 "Altınbaş Holding Targets International Growth". Fortune Turkey. March 2016.
- ↑ "Altınbaş University Student Statistics". Retrieved 15 November 2023.
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedTasam - ↑ "Altınbaş University Social Engagement". Retrieved 17 November 2023.
- ↑ "Private Istanbul University Founders Detained for Fraud". Duvar English. 23 September 2020.
External links
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